Macerich Co (NYSE:MAC) – KeyCorp issued their Q1 2019 earnings per share (EPS) estimates for shares of Macerich in a research note issued to investors on Sunday, February 10th. KeyCorp analyst T. Thomas forecasts that the real estate investment trust will post earnings per share of $0.83 for the quarter. KeyCorp also issued estimates for Macerich’s Q2 2019 earnings at $0.85 EPS, Q3 2019 earnings at $0.89 EPS, Q4 2019 earnings at $1.00 EPS, FY2019 earnings at $3.57 EPS, Q1 2020 earnings at $0.85 EPS, Q2 2020 earnings at $0.87 EPS, Q3 2020 earnings at $0.93 EPS, Q4 2020 earnings at $1.05 EPS, FY2020 earnings at $3.69 EPS and FY2021 earnings at $3.83 EPS.
A number of other equities research analysts have also weighed in on MAC. Scotiabank initiated coverage on shares of Macerich in a report on Tuesday, October 16th. They issued a “sector perform” rating for the company. Zacks Investment Research upgraded shares of Macerich from a “sell” rating to a “hold” rating in a report on Monday, October 22nd. BMO Capital Markets set a $64.00 price objective on shares of Macerich and gave the stock a “buy” rating in a report on Wednesday, October 31st. ValuEngine lowered shares of Macerich from a “sell” rating to a “strong sell” rating in a report on Friday, November 16th. Finally, BTIG Research lowered their price objective on shares of Macerich to $63.00 and set a “buy” rating for the company in a report on Monday, November 26th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $58.93.
MAC stock opened at $43.77 on Tuesday. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 2.41 and a beta of 0.92. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.99 and a quick ratio of 0.96. Macerich has a one year low of $40.90 and a one year high of $61.91.
Macerich (NYSE:MAC) last released its quarterly earnings results on Thursday, February 7th. The real estate investment trust reported $1.09 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.09. Macerich had a net margin of 6.25% and a return on equity of 2.41%. The business had revenue of $246.90 million during the quarter, compared to analysts’ expectations of $228.64 million. During the same quarter in the previous year, the company earned $1.03 EPS. The business’s quarterly revenue was up .7% compared to the same quarter last year.
A number of large investors have recently bought and sold shares of MAC. Bank of New York Mellon Corp raised its holdings in Macerich by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,298,084 shares of the real estate investment trust’s stock valued at $73,770,000 after buying an additional 43,760 shares during the last quarter. Bank of Montreal Can raised its holdings in Macerich by 11.2% in the 3rd quarter. Bank of Montreal Can now owns 267,640 shares of the real estate investment trust’s stock worth $14,798,000 after purchasing an additional 26,940 shares in the last quarter. First Hawaiian Bank bought a new position in Macerich in the 3rd quarter worth $580,000. Nisa Investment Advisors LLC raised its holdings in Macerich by 3.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 33,042 shares of the real estate investment trust’s stock worth $1,827,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Oakbrook Investments LLC raised its holdings in Macerich by 42.1% in the 3rd quarter. Oakbrook Investments LLC now owns 7,091 shares of the real estate investment trust’s stock worth $392,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors own 98.53% of the company’s stock.
In other news, Director Daniel J. Hirsch purchased 4,500 shares of the stock in a transaction that occurred on Tuesday, December 18th. The stock was bought at an average cost of $44.63 per share, for a total transaction of $200,835.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Arthur M. Coppola sold 105,574 shares of the company’s stock in a transaction on Tuesday, December 11th. The shares were sold at an average price of $49.79, for a total transaction of $5,256,529.46. The disclosure for this sale can be found here. Corporate insiders own 3.76% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 21st will be issued a dividend of $0.75 per share. The ex-dividend date is Wednesday, February 20th. This represents a $3.00 dividend on an annualized basis and a yield of 6.85%. Macerich’s dividend payout ratio is currently 77.92%.
Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 52 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.
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